Unique synergies are creating added values for car insurance
Partnership agreement between kasko2go & Amodo
Europe, April 2022 – The innovative data science company kasko2go is joining forces with Amodo, an award-winning Insurtech company. The combination of their solutions offers insurers unique and ground-breaking technology and helps both companies reach new customer groups around the world. As a result of the partnership, both companies will be able to broaden their offerings and strengthen their mutual global presence.
Since 2021, the Swiss company kasko2go has been driving the global expansion of its flagship “Normal Sigma” solution. Signing with Amodo expands the use of the companies’ technologies, particularly in the insurance sector. This move aims to significantly increase the profitability of insurers while providing superior accident-mitigation solutions for drivers.
Companies intend to integrate kasko2go’s risk assessment solutions into Amodo’s existing offerings. This provides kasko2go with quick access to new markets while offering Amodo’s new and existing clients a unique blend of best-in-class technologies.
kasko2go specializes in data science and the development of technologies that have been shown to improve insurance processes and profitability. Kasko2go’s technology is designed to hone and improve business, risk, and actuarial processes by utilizing highly refined big data and artificial intelligence capabilities. The technology analyses real-world accident data in conjunction with the weather, traffic density, time of day, and a variety of other variables to calculate the precise probability of traffic accidents on road networks. Amodo’s advanced technology and platform would enable kasko2go to provide its clients with a leading front-end system to execute their client-facing strategies, which would also be fueled by kasko2go’s technology.
Amodo has a proven track record of working with some of the biggest names in the insurance industry. Amodo’s main product, Connected Insurance Platform, enables insurance companies to create and brokers to place hyper-personalized usage-based insurance (UBI) solutions on the market. Amodo’s clients use its platform to gain strategic insights into customers’ profiles, segment them into relevant groups and acquire profitable ones. Amodo’s collaboration with kasko2go adds even more value to the clients’ experience and provides deeper risk insights.
Amodo and kasko2go had been communicating prior to their face-to-face meeting at an InsurTech Insights event in London. They saw an opportunity to close significant market gaps and provide even more comprehensive solutions to their customers.
Tal Yampolsky, CEO of kasko2go, states, “I strongly believe that there does not have to be an ‘or’ between the different providers, especially with the emergence of new innovative and valuable solutions in the InsurTech sector. It makes far more sense to connect new technologies and thus create even more added value for all parties.”
Marijan Mumdziev, CEO of Amodo, adds, “We are always excited when it comes to spreading the partner network and expanding our global presence. This venture of the two companies with their combined knowledge and expertise can only produce amazing results, and I’m confident that this will be the case here.”
About kasko2go
kasko2go is a company that develops technologically advanced solutions in the automotive and insurance industry. Through the use of big data, smartphone apps and integration systems, they develop algorithms that drastically improve insurance processes and profitability. The company’s mission is to create added value for all market participants with state-of-the-art technology, from insurers to motorists to private users. The latest commercial application enables car insurance companies to recognize the likelihood of accidents among their insurance customers and thus make their portfolio profitable. This way, motorists can also benefit from attractive premiums. This provides the global market with easy access to usage-based insurance. The company based in Zug was founded in 2017.
About Amodo
Amodo is an award-winning insurtech company that enables insurance companies to create and brokers to place hyper-personalized usage-based insurance (UBI) products on the market and in such a way address the ever-growing need of the consumers to be priced in a fairer way. Comprehensive Amodo Customer Engagement technology ensures an engaged user base through the smartphone channel. Over the past nine years, this insurtech launched close to 50 Connected Insurance projects worldwide with some of the leading companies such as AIG, Porsche Insurance, UNIQA, and many others. Amodo was named by Financial Times as one of the top 5 Insurtech companies globally, is a winner of a prestigious Digital Insurance Agenda Diamond Award in 2020, and has been named by Frost and Sullivan as the Best Practice Leader in the Usage-Based Insurance market in 2021.